Rich and Famous

9 years ago

Playboy Shareholder Sues Hefner

After decades of flying high, could Hugh Hefner find his wings clipped by an angry Playboy shareholder? In a class action lawsuit, the shareholder alleges that Hef has continued his enviable lifestyle while the company falls apart and that he’s sabotaged two potential deals to sell the magazine in the past six months. The lawsuit cites a note from an investment company that analyzed Playboy’s business model and said, “If you were Hugh Hefner, 81, would you give up the parade of busty blondes, the fancy mansion and the reality TV show for a payout?" The lawsuit continues, “"Hefner has continued to live the good life and make sure everyone knows it.” A share of Playboy stock—worth $36 in 1999—now sells for about $3, almost half the newsstand price of an issue of the magazine.